Today you can own a piece of land. Not just any old real estate but an entirely digital entity that exists only in cyberspace and can be accessed through your computer or phone and grounded on a blockchain platform! What does this mean for us as humans who love natural landscapes? It means we can still visit them in the real world and admire their beauty. But it also means that now there are endless opportunities to explore and invest in new virtual worlds, which are being developed heavily as you read this article.
Yes, that’s right. The future is now, and virtual worlds are no longer a thing of sci-fi books and films. Today they are real platforms powered by blockchain and NFT technologies that have brought along many new ways for users to interact and socialize with one another, reinvent themselves and capitalize on new trends such as investing in virtual real estate.
Such worlds are coined under the term “Metaverse”, and the real estate opportunities within them are very much real. Users can purchase plots of land that they can later visit, build upon and monetize in a limitless amount of ways and is a concept that has already proven to be extremely profitable.
For example, a patch of virtual land in the blockchain-based online world of Decentraland was sold as an NFT for more than $900,000 in June 2021, setting a new record for such digital assets and their worth. In another blockchain-based virtual world, The Sandbox, a piece of virtual real estate was sold for around $650,000 during the same time period, and in Somnium Space, an estate was sold for $500,000 in March 2021. Now those are some serious gains!
Crazy, you may think, but this trend is here to stay and has already hit the mainstream. Even big auction houses are jumping on the bandwagon, like when Sotheby’s opened a virtual copy of their London location on Decentraland to host an NFT art show which had more than 3000 virtual visitors in attendance. As a fully virtual event, the gallery had five ground-floor exhibit spaces to display NFT art as well as a digital avatar of the company’s London based commissionaire, Hans Lomulder, to greet virtual visitors at the door.
Currently, there are plenty more platforms being developed, each to streamline their own concept of a “Metaverse” and push virtual boundaries to new heights. One project that we are particularly excited about that is set to do this is Star Atlas, a one-of-a-kind, grand strategy game of space exploration, territorial conquest and political domination, which also has the potential to create significant real estate opportunities once launched.
Needless to say that such developments mean that virtual worlds and their real estate assets must be taken seriously, and the future impact they will have on society and wealth creation will be significant, making Metaverse platforms and the very technologies that power them indispensable.
At Master Ventures we have set out to create a global blockchain ecosystem of value and are excelling the concept of the Metaverse by launching and supporting blockchain gaming platforms on both our Ignition and Apollo-X launchpads. In parallel, we are working closely with our counterpart PAID Network to build an alliance of partners that could potentially join forces in the Metaverse in an ecosystem that utilizes PAID’s groundbreaking DApp solution at its center.
Disclaimer
This is not investment advice. This article has been written to outline the rise of virtual worlds and the virtual real estate opportunities that lie within them. Blockchain, cryptocurrency and NFT technologies have come a long way since their inception; however, they are still risky and volatile assets, so much caution must be exercised when investing.
About Master Ventures
Master Ventures is a blockchain-focused venture studio helping to build the next generation of blockchain-based Web 3.0 system innovations within the crypto industry. Launched in 2018 by Founder and CEO Kyle Chassé, the company’s ethos can best be summarized in the acronym #BeBOLD: Benevolent, Open, Love, Decentralized.
Master Ventures co-creates with entrepreneurs and businesses worldwide to turn the best ideas into innovative and disruptive products. They do this by investing as strategic partners through offering advisory services to the projects they believe in. To date, Master Ventures has invested in over 40 crypto projects, including the likes of Kraken, Coinbase, Bitfinex, Reef, DAO Maker, Mantra DAO, Thorchain, and Elrond.
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